Mongodb (MDB) Issues Q1 Earnings Guidance

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Mongodb (NASDAQ:MDB) updated its first quarter earnings guidance on Tuesday. The company provided earnings per share guidance of ($0.44-0.43) for the period, compared to the Thomson Reuters consensus earnings per share estimate of ($0.43). The company issued revenue guidance of $45.5-46.5 million, compared to the consensus revenue estimate of $44.90 million.Mongodb also updated its FY19 guidance to ($1.66-1.62) EPS.

Several brokerages have issued reports on MDB. Needham & Company LLC raised Mongodb from a hold rating to a buy rating and set a $34.00 price target for the company in a research note on Wednesday, February 14th. They noted that the move was a valuation call. Morgan Stanley reaffirmed an equal weight rating and set a $35.00 price target (up previously from $32.00) on shares of Mongodb in a research note on Wednesday, March 14th. Canaccord Genuity reaffirmed a buy rating and set a $45.00 price target (up previously from $35.00) on shares of Mongodb in a research note on Wednesday, March 14th. Stifel Nicolaus lifted their price target on Mongodb from $34.00 to $43.00 and gave the stock a buy rating in a research note on Wednesday, March 14th. Finally, Barclays lifted their price target on Mongodb from $45.00 to $47.00 and gave the stock an overweight rating in a research note on Thursday. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $37.78.

Shares of NASDAQ MDB traded down $2.23 during midday trading on Friday, reaching $40.77. The company had a trading volume of 293,434 shares, compared to its average volume of 395,911. Mongodb has a one year low of $24.62 and a one year high of $46.26. The firm has a market cap of $2,146.40 and a PE ratio of -23.43.

Mongodb (NASDAQ:MDB) last released its earnings results on Tuesday, March 13th. The company reported ($0.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.03. The company had revenue of $45.00 million during the quarter, compared to the consensus estimate of $42.60 million. Mongodb’s revenue was up 50.5% on a year-over-year basis. sell-side analysts anticipate that Mongodb will post -1.63 earnings per share for the current year.

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About Mongodb

MongoDB, Inc is a modern, general purpose database platform. Its platform is designed to run applications at scale across a broad range of use cases in the cloud, on-premise or in a hybrid environment. Its primary subscription package is MongoDB Enterprise Advanced, which includes its proprietary database server, security, enterprise management capabilities, its graphical user interface, analytics integrations and technical support.

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